The study looked at how technology and monetary shocks affect stock prices in the euro area from 1987 to 2005. Technology shocks were found to have a significant impact on stock prices, while monetary shocks did not. The method used allowed for the examination of how news about technology improvements affects stock prices, showing that such news has an immediate effect on the market. These results were consistent across different modeling choices and factors considered, indicating the strong influence of technology on stock prices during the period studied.